By Aaron Hochman-Zimmerman
New York, March 9 - The Oregon State Board of Higher Education priced $136.170 million in government obligation bonds (Aa2/AA/AA) on Friday, according to an offering statement.
Serial yields ranged from 0.72% to 4.90%. Term bonds priced with yields from 5.04% to 5.08%.
Maturities ranged from 2009 to 2029 with term bonds maturing in 2033, 2034 and 2038.
The bonds came in two tranches of $85.685 million for the series A bonds and $50.485 million series B bonds.
Merrill Lynch & Co. acted as lead underwriter for the negotiated bonds.
Proceeds will be used for university projects and to refund outstanding general obligation bonds.
The board of higher education is located in Corvallis, Ore.
Issuer: Oregon State Board of Higher Education
Issue: 2009 series A-B general obligation bonds
| Amount: | $136.170 million
|
| Maturities: | 2009 to 2029
|
| Serial yield range: | 0.72% to 4.03%
|
| Type: | Negotiated
|
| Underwriter: | Merrill Lynch & Co.
|
| Pricing date: | March 6
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
|
|
| Series A serial bonds
|
| Maturity | Amount | Coupon | Yield
|
| 2009 | $585,000 | 2.000% | 0.72% |
|
| 2010 | $1.865 million | 4.000% | 1.20% |
|
| 2011 | $1.940 million | 4.000% | 1.52%
|
| 2021 | $2.025 million | 4.000% | 1.88%
|
| 2013 | $2.100 million | 5.000% | 2.25%
|
| 2014 | $2.205 million | 5.000% | 2.72%
|
| 2015 | $2.320 million | 4.000% | 2.93%
|
| 2016 | $2.415 million | 5.000% | 3.14%
|
| 2017 | $4.345 million | 5.000% | 3.41%
|
| 2018 | $4.575 million | 4.000% | 3.58%
|
| 2019 | $3.585 million | 5.000% | 3.79%
|
| 2020 | $3.770 million | 5.000% | 4.03%
|
| 2021 | $3.980 million | 5.000% | 4.20%
|
| 2022 | $4.210 million | 5.000% | 4.35%
|
| 2023 | $1.970 million | 5.250% | 4.49%
|
| 2024 | $2.075 million | 5.750% | 4.52%
|
| 2025 | $2.195 million | 5.750% | 4.56%
|
| 2026 | $2.320 million | 5.750% | 4.64%
|
| 2027 | $2.450 million | 5.750% | 4.73%
|
| 2028 | $2.595 million | 5.750% | 4.82%
|
| 2029 | $2.540 million | 5.750% | 4.90%
|
|
|
| Series A term bonds
|
| Maturity | Amount | Coupon | Yield
|
| 2034 | $14.840 million | 5.000% | 5.05%
|
| 2038 | $14.780 million | 5.000% | 5.08% |
|
|
|
| Series B serial bonds
|
| Maturity | Amount | Coupon | Yield
|
| 2009 | $405,000 | 3.000% | 0.72% |
|
| 2010 | $1.110 million | 2.000% | 1.20% |
|
| 2011 | $1.130 million | 3.000% | 1.52%
|
| 2021 | $1.165 million | 3.000% | 1.88%
|
| 2013 | $1.195 million | 2.500% | 2.25%
|
| 2014 | $1.230 million | 3.000% | 2.72%
|
| 2015 | $1.270 million | 3.000% | 2.93%
|
| 2016 | $1.300 million | 3.250% | 3.14%
|
| 2017 | $1.350 million | 3.250% | 3.41%
|
| 2018 | $1.390 million | 3.375% | 3.58%
|
| 2019 | $1.440 million | 3.625% | 3.79%
|
| 2020 | $1.485 million | 4.000% | 4.03%
|
| 2021 | $1.550 million | 4.125% | 4.20%
|
| 2022 | $1.610 million | 4.250% | 4.35%
|
| 2023 | $700,000 | 4.375% | 4.49%
|
| 2023 | $985,000 | 5.000% | 4.49%
|
| 2024 | $1.760 million | 4.500% | 4.55%
|
| 2025 | $1.840 million | 4.500% | 4.62%
|
| 2026 | $450,000 | 5.625% | 4.70%
|
| 2026 | $1.470 million | 5.750% | 4.64%
|
| 2027 | $880,000 | 4.625% | 4.79%
|
| 2027 | $1.145 million | 5.750% | 4.73%
|
| 2028 | $1.135 million | 4.750% | 4.88%
|
| 2028 | $1.000 million | 5.750% | 4.82%
|
|
|
| Series B term bonds
|
| Maturity | Amount | Coupon | Yield
|
| 2033 | $9.440 million | 5.000% | 5.04%
|
| 2038 | $12.050 million | 5.000% | 5.08%
|
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